Payment Methods

Hyperwallet Adds Visa Direct To Payout Methods

Hyperwallet, a global payouts provider to digital marketplaces, announced Friday (Oct. 21) the addition of Visa Direct, a real-time push-to-card payment solution, to Hyperwallet’s existing payout methods. Visa Direct will allow U.S. payees to transfer their earnings onto an existing Visa debit card. Additionally, Hyperwallet anticipates that payees will be able to transfer global payment disbursements onto Visa debit cards issued outside of the U.S. in Q1 2017.

In a press release, the company said the Visa Direct platform has the ability to transfer funds within minutes to more than 200 million Visa debit cards in the United States. Visa can also transfer funds to non-Visa branded debit cards. Funds are transferred into the recipient’s account linked to a debit card without the need for deposit account number or bank routing code details.

“Having the ability to allow payees to deposit their earnings onto existing debit cards — in near real-time, no less — is just one of the many ways Hyperwallet is helping new economy companies pay their supply-side drivers, taskers and sellers faster,” said Hyperwallet CEO Brent Warrington in the press release.

Companies using the Hyperwallet payout platform have had the ability to issue global real-time payments via Visa virtual prepaid cards and personalized Visa prepaid cards since 2010. “Today’s workforce expects to receive their earnings in the fastest, safest and most convenient way,” said Bill Sheley, head of global push payments at Visa Inc., also in the press release. “The addition of Visa Direct to Hyperwallet helps eliminate the need for direct deposit or cashing checks. With Visa Direct and Hyperwallet, workers can transfer their earnings in near real-time onto eligible debit cards, resulting in immediate, reliable access to their money.”

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About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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